Hi Yankee,
If MSB had one product in the pipe-line, then it could be argued that their current cash position would be sufficient to get the them to FDA approval (assuming no significant delays).
However they have a number of products undergoing trials and the costs will continue to mount... and as you know, it is very expensive to keep all these projects on track!
Management have actually been quite up-front about their cash flow position, and at NO STAGE have they said they are fully funded to completion/approval stage.
The wording used by Management is that "cash managed to extend runway and achieve Tier 1 value inflexion points". In other words, management are saying that they have enough cash to achieve a re-rating in the share price with the current cash reserves ... and nothing more.
But of course there must be more... the show must go on! And I believe Management know that they will need future funding, and their objective is to ensure it is not overly dilutive.
Love your posts btw Yankee - keep it up!
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